A Tweet Costing $14 Billion

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Tesla's Elon Musk posted on twitter that Tesla's share price was too high, this single tweet resulted in $14 billion (About 98 billion RMB) wiped off the company's market value. Musk's stake in Tesla also fell by $3 billion(about 21 billion RMB) as investors quickly bailed out of the company.

"Tesla stock price too high imo," he said on one of the tweets. In 2018, a tweet about Tesla's future in the New York stock market caused regulators to impose a $20 million fine on Tesla, and musk agreed to let lawyers pre-screen all further posts on the platform.

On Friday, the Wall Street Journal reported it had asked the billionaire if he was joking about the share price tweet and whether it had been vetted, receiving the reply "No".

"We view these Musk comments as tongue in cheek and it's Elon being Elon. It's certainly a headache for investors for him to venture into this area as his tweeting remains a hot button issue and WallStreet clearly is frustrated," Wedbush Securities analyst Daniel Ives told Reuters news agency.

In 2018, musk said on twitter that he may have obtained funds to remove Tesla from the stock market and privatize it, this also led to stock price volatility. The securities and Exchange Commission saw it as a market-moving comment, fined him and forced Tesla to place checks and make sure it won't happen again.

But last month, a federal judge said Tesla and musk had to face lawsuits from shareholders over the ongoing private tweet, including allegations that musk intended to deceive them.

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